SAFAR: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SAFAR
Largest movements
- Receivables within one year -€3,601
down €3,601 (-80.8%), from €4,457 to €855
of which Trade receivables: -€4,207
- Stocks and contracts +€2,500
up €2,500 (+57.6%), from €4,344 to €6,844
- Cash -€2,338
down €2,338 (-68.4%), from €3,418 to €1,080
mainly Net result for the year (-€11,264) and Stocks and contracts (-€2,500)
- Profit (loss) carried forward -€11,264
down €11,264 (-91.0%), from -€12,380 to -€23,645
- Trade debts +€4,762
up €4,762 (+88.1%), from €5,408 to €10,169
- Tax, wage and social debts +€2,026
up €2,026 (+48.5%), from €4,176 to €6,201
- Other debts +€918
up €918 (+14.8%), from €6,199 to €7,117
- Gross operating margin -€20,280
down €20,280, from €9,853 to -€10,427
- Depreciation -€775
down €775 (-86.6%), from €896 to €120
- Other operating charges -€645
down €645 (-60.5%), from €1,066 to €421
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,702 | €9,143 | -€3,559 | -28.0% |
| Fixed assets | 21/28 | €483 | €363 | -€120 | -24.9% |
| Tangible fixed assets | 22/27 | €433 | €313 | -€120 | -27.8% |
| Plant, machinery and equipment | 23 | €16 | - | -€16 | |
| Furniture and vehicles | 24 | €417 | €313 | -€104 | -25.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €12,219 | €8,780 | -€3,439 | -28.1% |
| Stocks and contracts in progress | 3 | €4,344 | €6,844 | +€2,500 | +57.6% |
| Stocks | 30/36 | €4,344 | €6,844 | +€2,500 | +57.6% |
| Amounts receivable within one year | 40/41 | €4,457 | €855 | -€3,601 | -80.8% |
| Trade receivables | 40 | €4,457 | €250 | -€4,207 | -94.4% |
| Other amounts receivable | 41 | - | €605 | +€605 | |
| Cash at bank and in hand | 54/58 | €3,418 | €1,080 | -€2,338 | -68.4% |
| Total equity and liabilities | 10/49 | €12,702 | €9,143 | -€3,559 | -28.0% |
| Equity | 10/15 | -€3,080 | -€14,345 | -€11,264 | -366% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,380 | -€23,645 | -€11,264 | -91.0% |
| Amounts payable | 17/49 | €15,782 | €23,487 | +€7,705 | +48.8% |
| Amounts payable within one year | 42/48 | €15,782 | €23,487 | +€7,705 | +48.8% |
| Trade debts | 44 | €5,408 | €10,169 | +€4,762 | +88.1% |
| Suppliers | 440/4 | €5,408 | €10,169 | +€4,762 | +88.1% |
| Taxes, remuneration and social security | 45 | €4,176 | €6,201 | +€2,026 | +48.5% |
| Taxes | 450/3 | €4,176 | €6,201 | +€2,026 | +48.5% |
| Other amounts payable | 47/48 | €6,199 | €7,117 | +€918 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €896 | €120 | -€775 | -86.6% |
| Other operating charges | 640/8 | €1,066 | €421 | -€645 | -60.5% |
| Gross operating margin | 9900 | €9,853 | -€10,427 | -€20,280 | |
| Operating profit (loss) | 9901 | €7,891 | -€10,968 | -€18,860 | |
| Financial income | 75/76B | €54 | - | -€54 | |
| Recurring financial income | 75 | €54 | - | -€54 | |
| Non-recurring financial income | 76B | €54 | - | -€54 | |
| Financial charges | 65/66B | €284 | €296 | +€12 | +4.3% |
| Recurring financial charges | 65 | €284 | €296 | +€12 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €7,662 | -€11,264 | -€18,926 | |
| Profit (loss) for the period | 9904 | €7,662 | -€11,264 | -€18,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,662 | -€11,264 | -€18,926 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.